Wed, Oct 02, 2013 - Page 14 News List

Fubon Financial Holding shuffles top executives to improve vitality, strength

By Crystal Hsu  /  Staff reporter

Fubon Financial Holding Co (富邦金控), the nation’s second-largest financial service provider by assets, yesterday announced a reshuffle of top executives at its main subsidiaries as the conglomerate moves to strengthen its organizational cooperation and financial proficiency.

Fubon Financial president Victor Kung (龔天行) was replaced by Vivien Hsu (許婉美), co-president of its affiliate, Taiwan Mobile Co (台灣大哥大), to enhance ties between the two business groups, Fubon Financial said in a statement.

“No organization’s structure is perfect and the new makeup is intended to improve its vitality, so the company can better serve customers,” Fubon Financial chairman Daniel Tsai (蔡明忠) said.

The appointment of Hsu to a Fubon Financial leadership position may help introduce a healthy dose of innovation to financial services, Tsai said.

Kung is to take over the chairmanship of Fubon Insurance Co (富邦產險) when the current chairman, Charles Kao (高朝陽), retires.

Fubon Financial recruited former Taiwan Stock Exchange Corp president Samuel Hsu (許仁壽) to head its securities arm, Fubon Securities Co (富邦證券), in the hope of using his longstanding securities expertise, Tsai added.

The conglomerate created an investment and management unit under Fubon Financial and invited Fubon Life Insurance Co (富邦人壽) vice chairman Howard Lin (林福星) to double as chief investment officer, the statement said, adding that Taipei Fubon Commercial Bank (台北富邦) president Jerry Harn (韓蔚廷) will concurrently serve as Fubon Asset Management Co (富邦資產管理) chairman.

The management reshuffle should allow the conglomerate to strengthen its earnings after it beat peers for the past four years in terms of profitability, Tsai said.

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